All Free Management Sciences MCQs with Answers

• A. management information system
• B. financial information system
• C. marketing information system
• D. corporate information system

Explanation: A marketing information system uses people, equipment and procedures to collect, process and distribute information for marketing…

• A. marketing expenses quota
• B. production quota
• C. demand potential
• D. sales quota

Explanation: A sales quota is a specific sales target assigned to a division, territory, salesperson or product line for a stated period.

• A. data based on real happenings
• B. data based on results
• C. data based on raw materials
• D. data based on sales

Explanation: Marketing intelligence gathers information about actual events and developments in the market, such as competitor actions and customer…

• A. low market penetration index
• B. strict demand
• C. high market penetration index
• D. stretched market penetration index

Explanation: A high market penetration index indicates that much of the potential market has already been reached, so attracting the remaining…

• A. raw material cost
• B. production
• C. sales
• D. marketing effort

Explanation: In a sales-response graph, marketing effort is normally placed on the horizontal axis and sales on the vertical axis, showing how sales…

• A. economic environment analysis
• B. geographic environment analysis
• C. demographic environment analysis
• D. analysis of natural environment

Explanation: Income distribution and personal saving patterns describe consumers' purchasing power and spending capacity, so they belong to the…

• A. total production potential
• B. total market potential
• C. total demand potential
• D. current demand

Explanation: Total market potential is the maximum possible sales of all firms in an industry during a specified period under given environmental…

• A. minor trends
• B. special followers
• C. mega trends
• D. introductory products

Explanation: Megatrends are broad, long-term social, economic, technological or political changes that influence markets on a very large scale.

• A. limited expenditure
• B. no expansible market
• C. expanding expenditure
• D. expansible market

Explanation: An expansible market grows when firms increase marketing efforts such as advertising, promotion and distribution.

• A. fade fashion
• B. fad
• C. marketing shade
• D. short-term marketing wave

Explanation: A fad is a short-lived and socially limited marketing or consumption trend with little lasting economic significance.

• A. affecting groups
• B. reference groups
• C. marketing groups
• D. retailer groups

Explanation: Reference groups influence a person's attitudes, opinions and buying behaviour either directly through interaction or indirectly through…

• A. inspiration orientation
• B. family orientation
• C. family of procreation
• D. group orientation

Explanation: The family of procreation consists of a person's spouse and children, whereas the family of orientation refers to the parents and siblings…

• A. psychological heuristic
• B. motivation heuristic
• C. expectancy heuristic
• D. representative heuristic

Explanation: The representative heuristic judges an offering by how closely it resembles the typical product in a category.

• A. decision heuristic
• B. peripheral heuristic
• C. expectancy heuristic
• D. motivation heuristic

Explanation: Representative and availability heuristics are decision heuristics because they help consumers reach judgments quickly using mental…

• A. effect of cultural factors
• B. effect of social factors
• C. effect of economic factors
• D. effect of global factors

Explanation: Reference groups, family and social status shape purchasing through interaction, norms and social roles, so they are social factors.

• A. memory retrieval
• B. memory decoding
• C. memory encoding
• D. memory revival

Explanation: Memory encoding is the process by which information is noticed, processed and stored in memory, including the circumstances of where and…

• A. compensatory model
• B. non compensatory model
• C. realistic model
• D. approached model

Explanation: The expectancy-value model is compensatory because a low evaluation on one attribute can be offset by a high evaluation on another.

• A. social factors
• B. personal factors
• C. family factors
• D. status factors

Explanation: Lifestyle, values, occupation and self-concept are personal characteristics that affect buying decisions, so they are personal factors.

• A. total set of brands
• B. availability set
• C. consideration set
• D. brands awareness

Explanation: A consideration set is the group of brands a buyer seriously evaluates against needs or standards before choosing.

• A. unanticipated situational factors
• B. attitudes of others
• C. anticipated factors
• D. both A and B

Explanation: Purchase intention can be changed by other people's attitudes and by unexpected situational factors such as price changes or an urgent…